MERIAN GLOBAL INVESTORS UK Ltd Has $32.51 Million Stake in MDU Resources Group Inc (MDU)

MERIAN GLOBAL INVESTORS UK Ltd grew its stake in MDU Resources Group Inc (NYSE:MDU) by 253.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 1,265,617 shares of the utilities provider’s stock after purchasing an additional 907,590 shares during the quarter. MERIAN GLOBAL INVESTORS UK Ltd’s holdings in MDU Resources Group were worth $32,513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of MDU Resources Group by 1.6% in the 2nd quarter. BlackRock Inc. now owns 17,393,282 shares of the utilities provider’s stock valued at $498,839,000 after acquiring an additional 277,676 shares in the last quarter. US Bancorp DE grew its holdings in shares of MDU Resources Group by 0.3% in the 2nd quarter. US Bancorp DE now owns 2,074,072 shares of the utilities provider’s stock valued at $59,485,000 after acquiring an additional 6,825 shares in the last quarter. Hermes Investment Management Ltd. grew its holdings in shares of MDU Resources Group by 1.4% in the 2nd quarter. Hermes Investment Management Ltd. now owns 1,529,633 shares of the utilities provider’s stock valued at $43,870,000 after acquiring an additional 21,814 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of MDU Resources Group by 34.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,334,976 shares of the utilities provider’s stock valued at $38,288,000 after acquiring an additional 340,491 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in MDU Resources Group by 5.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,137,241 shares of the utilities provider’s stock worth $32,617,000 after purchasing an additional 56,137 shares during the period. Institutional investors own 64.00% of the company’s stock.

MDU Resources Group stock opened at $25.89 on Friday. MDU Resources Group Inc has a 52 week low of $24.29 and a 52 week high of $29.62. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.39 and a quick ratio of 1.05. The stock has a market cap of $5.03 billion, a P/E ratio of 19.88, a price-to-earnings-growth ratio of 2.85 and a beta of 0.58.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.06). MDU Resources Group had a return on equity of 10.40% and a net margin of 6.45%. The business had revenue of $1.06 billion for the quarter. As a group, sell-side analysts predict that MDU Resources Group Inc will post 1.38 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Thursday, September 13th were issued a dividend of $0.1975 per share. This represents a $0.79 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date was Wednesday, September 12th. MDU Resources Group’s payout ratio is currently 63.20%.

MDU has been the subject of a number of research analyst reports. KeyCorp lifted their price target on MDU Resources Group from $29.00 to $30.00 and gave the stock a “$29.34” rating in a report on Thursday, July 19th. Citigroup lifted their price target on MDU Resources Group from $28.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, July 31st. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $29.25.

MDU Resources Group Company Profile

MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services.

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Institutional Ownership by Quarter for MDU Resources Group (NYSE:MDU)

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